Britannia Industries Q2 profit rises 16.09%

New Delhi: FMCG major Britannia Industries Monday reported a 16.09% increase in consolidated net profit to ₹303.03 crore for the second quarter ended September 2018, led by a double-digit volume growth.

The company had posted a net profit of ₹261.03 crore in the July-September period a year ago, Britannia Industries said in a BSE filing.

Its total income from operations during the period under review was at ₹2,913.55 crore, up 12.22% compared to ₹2,596.11 crore in the corresponding quarter of the last fiscal.

“This was the fourth successive quarter of double-digit volume growth primarily due to our investment in brands, multi-media campaign to bring alive the new identity and celebrating 100 years and widening our distribution network through a focus on direct reach, rural market and weak states,” Britannia Industries managing director Varun Berry said.

Total expenses stood at ₹2,454.58 crore in the quarter under review against ₹2,202.68 crore in the same period of last fiscal.

Shares of Britannia Industries closed almost flat at ₹5,753.80 after hitting the day’s high of ₹5,844.70 on BSE.